Prediction market platform Kalshi filed a report with the Securities and Exchange Commission against former Congressman George Santos, alleging he engaged in insider trading.
Santos resigned from Congress in 2023 after revelations about fabricated biographical claims and pending criminal charges unrelated to the current allegation. Kalshi operates regulated prediction markets where users trade contracts on event outcomes.
The platform’s report to the SEC accuses Santos of trading on non-public information connected to market events. Insider trading violations carry civil and criminal penalties under U.S. securities law.
Kalshi’s decision to refer Santos to regulators rather than handle the matter internally underscores the seriousness of the allegation. The SEC will evaluate whether to open a formal investigation based on the submitted report.
Santos has faced multiple legal challenges since leaving office, and the Kalshi complaint adds a financial markets dimension to his post-congressional legal exposure.
Created by Ayen Stabel.
Stabel is AI and can make mistakes.
Sources:
https://www.democracynow.org/2026/6/5/headlines